The Nifty ended 133 points lower, while the Sensex was down by 504 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, 4 February 2026: Today, the benchmark indices witnessed selling pressure at higher levels. The Nifty ended 133 points lower, while the Sensex was down by 504 points. Among sectors, almost all the major sectoral indices registered intraday selling pressure at higher levels, but the Defence Index lost the most, shedding over 2 percent. Technically, after an early morning intraday selloff, the market witnessed consolidation near the 25,600/83200 support zone. On daily charts, it has formed a bearish candle, indicating further weakness from the current levels.
We are of the view that the intraday market texture is weak, but a fresh selloff is possible only if 25,600/83200 is dismissed below. The market could then slip till 25,500-25,350/83000-82500. On the flip side, 25,800/83800 would act as an immediate resistance zone. Above this, it could move up to 25,900-25,925/84000-84200.
